American Express has decided that the cash-back cardholders of this company now have the opportunity to spend their reward dollars on the virtual platforms of the e-commerce giant Amazon.
Customers of the mentioned financial services provider can take advantage of the new option by having payment means that meet the requirement. In this case, the compliance criterion is the support of card American Express cashback. Consumers will receive the same amount for their bonus dollars as when paying for the statement. One dollar reward is equal to the same value on the website or in the app of the e-commerce giant.
To take advantage of the new offer, American Express customers must link the card to their Amazon account. After that, it needs to choose reward dollars as a payment method when placing an order. The funds received by the client as a reward can be used for partial or full payment of the purchase. The bonus dollars will be converted into regular money and deducted from the total amount during the checkout procedure.
Currently, there are eight American Express cashback bonus cards. These means of payment provide consumers with the opportunity to exchange dollars received as a reward at the Amazon cash register for the same amount as when paying off the loan in the statement.
American Express last month reported that for the third quarter of this year, the total volume of its network billed business, which is an indicator of cardholder spending, reached $420 billion, an increase of 7% year-on-year. The costs of this company’s customers for goods and services in the period from July to September increased by 6% compared to the result for the same period in 2022. At the same time, the increase in the expenses of American Express cardholders for travel and entertainment increased by 13% year-on-year.
Industry research shows that consumer activity promotion programs contribute to increasing the level of customer loyalty of companies. In the United States, 65% of credit or debit card holders prefer to make purchases from brands or merchants that provide rewards.
As we have reported earlier, PayEm Integrates Spend Management and Procurement Platform With American Express.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
